Provably fair gaming refers to fair game play, in which a virtual casino operator is not able to change the results of an on-line game. A provably fair game is a game that uses cryptographic algorithms to ensure their players that the game host or other players did not tamper with the outcome of the game after it has begun. Provably fair websites enable players to feel confident that outcomes from online games of chance are based on luck and mathematical probability.
Virtual casino operators rely on cryptography to provide provably fair gaming. For example, a player's game input is converted into digital data, which is then transformed into hash sequences, or strings, using cryptographic algorithms. The hash strings include a series of alphanumeric symbols that are intended to be impossible to decrypt. Additionally, there are no third parties (even dealers) having access to game outcomes in provably fair casinos.
Provably fair gaming technologies are generally associated with Bitcoin casinos, which allow the public to see outcomes that are based on the player's input and a secret that is disclosed and changes. For example, BitLotto uses a “blockchain” for provably fair gaming.
The blockchain solves the double spending problem associated with digital currencies. Simply put, a blockchain is a ledger of all transactions that is owned and monitored by everyone, but controlled by none. The blockchain is like a spreadsheet everyone has access to and updates to confirm each digital credit is unique. The benefit of the blockchain is that online wagers can be verified by anyone at any time after the results are published. The published results are used to prove that the game played was fair.
However, there are certain limitations to the provably fair gaming bitcoin gaming casinos that include the need for a casino operator to manage and control game play. Therefore, it would be beneficial to provide for a provably fair gaming system and method, in which gamblers can play provably fair games with other players, without the need for a house, e.g. a virtual casino operator.
Additionally, it would be beneficial to provide a provably fair crytptographic solution that can be integrated with virtual gambling websites.
Furthermore, there is a need for system and method that enables each player to validate that random game events occurred without tampering from a virtual casino or other player participating in the game.